NECISTO U. Sytengco, founder and chairman of chemical trading company SBS Philippines Corp., had passed away.
The company told the public of his death through a regulatory filing to the stock exchange on Wednesday.
Mr. Sytengco was chairman of the board of SBS at the time of his death. He built the company in the 1970s and served as its president from its incorporation in July 2001 until January 2016. He became chairman in March 2015.
Forbes named Mr. Sytengco the 39th richest man in the Philippines last year with a net worth of $210 million (about P10.75 billion) as of September 2019.
SBS was originally a single proprietorship merchandising firm that dealt with the import-wholesale trade of chemicals and other products. Mr. Sytengco led its growth and transformation. — Denise A. Valdez